Sponsored by
CPP goes for growth after £130m financing
YORK-based CPP Group today revealed it had secured £130m financing to boost its expansion across Europe, Asia and North America.
CPP, which specialises in providing credit card protection, identity theft protection and mobile phone insurance, said it was still delivering impressive growth despite the credit crunch.
The senior debt package was structured locally by Barclays, Lloyds TSB Corporate Markets, HSBC, Royal Bank of Scotland and Allied Irish Bank.
The five-year deal will provide CPP with working capital facilities to develop the business and enable the return of funds to shareholders. Last year UK revenues were up 16.7 per cent to 136m, while globally the group turned over 225.2m, a rise of 14 per cent on the previous year.
CPP, which employs 1,000 staff in York, has 10.6m customers and works with 280 business partners across 12 countries. It recently announced the opening of its third UK-based contact centre in Chesterfield after York and Tamworth, Staffordshire.
The Chesterfield base is due to open in July and create 300 jobs by the end of the year.
Shaun Parker, group finance director at CPP, said: "Despite difficult lending markets, this new debt package is testament to the quality and strength of our business. The CPP Group is performing very well and we have delivered double-digit growth in revenue and profit for the last few years."
Email to a friend
Print this page- Three-inch blanket of snow heading our way today
- Alan Shearer in list of favourites for Leeds and England jobs: Latest odds
- Barnsley’s Keith Hill invokes Fawlty Towers over link with Leeds job
- McCormack feels United search can be narrowed down
- Redfearn throws down gauntlet as queue builds at Elland Road
- Rival chips in with £500,000 to restore the original Harry Ramsden’s
- Visit from Princess as Serbian culture celebrated
- SportsTalk: Leeds United’s manager search, Super League and Calcutta Cup
- Libraries aren’t like supermarkets, they are magical places where dreams begin
- Strategic review will lead to job losses at Yorkshire Bank
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Yorkshire
Saturday 11 February 2012
Today
Cloudy
Temperature: -1 C to 1 C
Wind Speed: 9 mph
Wind direction: South east
Tomorrow
Light rain
Temperature: 1 C to 6 C
Wind Speed: 8 mph
Wind direction: North west
